Frightening!!!!!! (Draft Bailout Bill)

I am shocked. I cannot believe what I read. I really am shocked.

I wonder how many people would read it, much less be able to comprehend it. My god. No judicial oversight??!?!?!?

And read this part:

Sec. 9. Termination of Authority.

The authorities under this Act, with the exception of authorities granted in sections 2(b)(5), 5 and 7, shall terminate two years from the date of enactment of this Act.

Section 2(b)(5) is a classic loophole from where I stand:

(5) issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities of this Act.

eg do it all over again

for homework go back and re-read the other sections that won't terminate after two years

With legal documents, unless you have there meaning of the words, what is the point of reading it. Does anyone have the dictionary they use, so we can interpret as close as we can. I doubt it.

reply to post by andy1033
Andy, its not THAT complicated. I beleive it says

for us to go stuff ourselves. Its over. Lets see how the "talking" heads spin this one, huh?

In a nutshell here is what Mish suggest and I support 100%.

$700 billion will be wasted by this program and it is $700 billion the US does not have to waste. I ask that everyone vote against any congressman who votes for the passage of this bill.

Originally posted by dgtempe
reply to post by andy1033

 

Andy, its not THAT complicated. I beleive it says

for us to go stuff ourselves. Its over. Lets see how the "talking" heads spin this one, huh?

What i have learned is that legal documents, speak in a very strict definition of the english language. If i do not know the actual meanings of all the words they use, it is pointless me even reading it. thx.

But i do get the jist of it, obviously like all of us will.

reply to post by andy1033


Gosh Andy, I honestly think enough of it is in plain english, and those parts are pretty clearly disturbing. Is there for instance a specific phrase you want clarified? Ask away sweetie! I want to make sure everyone understands this stuff, and I'm sure there are others that will help too, as I'm also sure there are others that are wondering the same things, so let's clear them up.

[edit on 9/20/2008 by Relentless]

I wonder when the gloves will come off and they'll just start conscripting debtors into the military. After all, you've already been bought and paid for...

Originally posted by Mainer
No court may review their decisions? Does that not circumvent the checks and balances of the Constitution?

The clause takes away the option where a reckless investor/speculator, who decided to play roulette with your dough, hires a hot-shot lawyer to challenge the constitutionality of the action taken by the government. That prevents the Supreme Court to be buried alive in thousands of challenges of similar kind.

reply to post by stander


Or any groups such as WTP who are already suing over the unconstitutionality of the AIG Bailout.

www.wethepeoplefoundation.org...

As I have been researching to the time line of events with the fed, bail outs and market woes, it seems clear that the Federal Reserve has been wanting more power since the housing bubble crashed.

As early as March Bernanke has been hinting that the fed needs more powers to handle the housing crisis.

Paulson wants market oversight reform, more Fed power+

www.breitbart.com...

Then again in July,

Bernanke Endorses Expanded Authority

www.washingtonpost.com...

Now excuse my conspirators mentality but it becomes more clear that this is been a planned and endorse by the powers behind the government and perhaps the latest collapse in the markets may have been already planned to introduce what we are now looking as a total power of the fed, over congress and with total control of the department of treasury.

People in this board frequently complain that web sites like INFORMATION CLEARING HOUSEare not to be trusted.

But you know what they actually knew back in in March 2008 what kind of powers the Corrupted federal Reserve was seeking.

I don't know about you people but I will never look at Information clearing house the same way again

Paulson's real motive is to preempt the regulatory sledgehammer that is set to descend on the entire financial industry following the 2008 election. There's growing fear that a President Obama may tote his firehose down to Wall Street and flush out some of the debris that has collected in the market's dark corners.

.

So the take over will be done before the next president comes to be because the fed are afraid of an Obama president.?

Interesting.

If Paulson's plan is approved in its present form, Congress will have even less control over the financial system than it does now and the same group of self-serving banking mandarins who created the biggest equity bubble in history will be able to administer the markets however they choose without the annoyance of government supervision. That's exactly what Treasury Secretary and his pals at the Fed want; unlimited power with no accountability.

Incredible that this was already circulating in the internet with nobody wanting to see the truth behind this article

Because people don't like the site?

Read the article people this getting better and better.

www.informationclearinghouse.info...

I have been requested by FedUpUSA.org to forward this appeal regarding this matter.

Note to Mods: I have full permission to use any material from the board I am linking to, it is the same one I do my weekly reports from.
Hope this is okay (since Gools has said a long quote is okay if there are no copyright issues, and Springer has the permissions from the board this is from for me to use their material). They are just trying to get the word out, as we have so little time, and this is so important.

We need ANYONE with connections in the following areas and we need them NOW:

1. Media (of any kind anywhere)
2. Judges, Attorneys, Academics
3. Congress
4. ANYONE of any stature or power in Washington DC

We need this now. Even if all you can offer is you know someone who knows someone's brother's dog....

We have 72 hours before Hank Paulson takes charge of $800Billion with NO OVERSIGHT, INCLUDING THE ELIMINATION OF ANY POWER OF THE SUPREME COURT OF THE UNITED STATES TO STOP THIS.

YES. YOU READ THIS CORRECTLY.

Read the text for yourself: www.foxnews.com...
Pay attention to Section 2 Paragraph (b) and Section 8.
Section 8 neuters the SCOTUS completely.

Congress is so scared because of what Paulson and Ben have told them, that they are afraid NOT to. On the other hand, we have it on good authority that many of them are scared to death to neuter the judiciary arm of our government. (As they damn well should be...)

We are right now:

1. Preparing a paper which is going to Congress pointing out each and every every action Hank & Ben have directed Congress to take, which turned out to be not only completely ineffective, but each and every lie they told to get what they wanted. This will be complete with footnotes to DIRECT QUOTES.

2. Preparing a 30-second video aimed at Congress to get the message out NOW. We hope to get this aired on NATIONAL TV ANY WAY WE CAN!

3. A website which will have the entirety of #1 posted where all media and Congress can read it for themselves.


It is understandable if you have these connections and do not want to identify yourself. Please PM me (NOT KARL-he is unavailable right now) and I assure you, that you will remain anonymous.


I also need:

1. A team of people who are willing to compile and write up #1. There is already a good head start on this in General, I believe.

2. A team of people willing to help with trying to contact media through 'normal' channels. This will be a difficult endeavor, but we need it done in case there is no one with 'inside' leverage.


If this Legislation is passed, make no doubt, THIS IS nothing less than a complete coup of our existing government structure. It is irreversible.

----------
"Americans can always be counted on to do the right thing...after they have exhausted all other possibilities." Winston Churchill

Stop the Lies; Stop the Bailouts www.FedUpUSA.org...

www.tickerforum.org...

Contact info:

[email protected]

I have also given her contact info for WTP, so anyone else who knows other organizations with similar agenda (especially if you actually know a contact person) should send them to her. I really think we all need to band together at this point.

So isn't this really just making fascism official?

I just sent an email to my congressman. Lets hope it actually works. I also added in my email that if my representative was unsure on what needs to be done, he should contact and listen to Ron Paul of Texas who is one of the few who have a good economic grasp.

[edit on 20-9-2008 by badmedia]

I did my best to save the USA yesterday and sent a letter to my state Reps. Dunno what good that will do. I'll see how they vote and send a follow-up letter.

I won't even be able to concentrate during my jog. This is surreal. The part about no judicial oversight & how these corps. become "financial agents of the Government" chills me to the bones.

I wonder if the IRS will get stronger given the immense DEBT the USA now faces. This is OUR debt now - and the IRS collects the payments. Hmmm..

www.globalsecurity.org...

Consequence Management Response Force

Beginning Oct. 1 for 12 months, the 1st BCT will be under the day-to-day control of U.S. Army North, the Army service component of Northern Command, as an on-call federal response force for natural or manmade emergencies and disasters, including terrorist attacks.

After 1st BCT finishes its dwell-time mission, expectations are that another, as yet unnamed, active-duty brigade will take over and that the mission will be a permanent one.

They may be called upon to help with civil unrest and crowd control or to deal with potentially horrific scenarios such as massive poisoning and chaos in response to a chemical, biological, radiological, nuclear or high-yield explosive, or CBRNE, attack.

I'm kinda having a hard time understanding the language of these passages for some reason, but I get the gist of it.

Complete and total economic control?

Sorry, guys.

Originally posted by Devin Townsend
I'm kinda having a hard time understanding the language of these passages for some reason, but I get the gist of it.

Complete and total economic control?

Sorry, guys.

A new arm of the government that is UNTOUCHABLE, remember the $150 hammer and the $2,000 toilet seat, where did that money go? Well we will soon find out.

[edit on 20-9-2008 by 38181]

reply to post by marg6043


I love this quote from your link:

No one elected Paulson to do anything. He has no mandate. He is an industry rep. who has worked exclusively for a small group of wealthy investors who have put the entire country at risk with their toxic mortgage-backed bonds, their reckless Ponzi-type speculation, and their off-book chicanery. Paulson should be removed immediately and returned to his wolf's lair at G-Sax. If Bush is serious about straightening out Wall Street, then bring in Eliot Spitzer. He's available. And he'll do what it takes to clean house, that is, put a truncheon-wielding robo-cop in every trading-pit at the NYSE, and dispatch government accountants to every office of every CFO making sure they have a Big Red Pen in one hand and a taser in the other. That's the only way to get the attention of the bandit-class.

It is so clear in retrospect that Spitzer was led to the outhouse by these people. Yes he had his proclivities but they absolutely used them to their advantage in order to remove the biggest obstacle in their way - him.

ATS was so close to connecting those dots last spring but Wall St. exhuberance at seeing him go down prevailed.

Originally posted by 38181

A new arm of the government that is UNTOUCHABLE

Oh geez - that's it in a nutshell isn't it? Not only untouchable, but free reign to act without any oversight.

Well at least I feel better now that I did my duty and sign the petition and also has send already three E-mails to my representatives.

I wish I could do more but lately in America is becoming against the law to protest in Washington and even if I could is too far away from my home.

Originally posted by kosmicjack
It is so clear in retrospect that Spitzer was led to the outhouse by these people. Yes he had his proclivities but they absolutely used them to their advantage in order to remove the biggest obstacle in their way - him.

ATS was so close to connecting those dots last spring but Wall St. exhuberance at seeing him go down prevailed.

Interesting thoughts, 'jack.

... personally I anticipate the new thread.